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RBI Announced Three Consumer-Centric Schemes to Strengthen Financial Inclusion.

Banking & Finance | Dated: 07 Aug 2025

In August 2025, the Reserve Bank of India (RBI) introduced three consumer-centric schemes aimed at enhancing financial inclusion across the country. The announcement was made by RBI Governor Sanjay Malhotra during the conclusion of the 3rd Bi-monthly Monetary Policy Committee (MPC) meeting for the Financial Year 2025–26, held in Mumbai, Maharashtra.

🎯 Key Highlights:

  • - The first initiative focuses on conducting doorstep banking camps at the Panchayat level to improve access to financial services in rural and unbanked areas. As per RBI directives, these camps will be held from July 1, 2025, to September 30, 2025. The measure aims to expand outreach under the Pradhan Mantri Jan Dhan Yojana (PMJDY), a flagship financial inclusion programme.
  • - The second scheme simplifies the settlement process for deceased customers. Banks have been instructed to streamline claim settlement procedures under the Banking Regulation Act, 1949, making it easier for legal heirs to access the funds of deceased account holders without unnecessary delays.
  • - The third measure involves expanding the functionality of the RBI Retail Direct platform. The enhancement will allow retail investors to invest in Treasury Bills (T-Bills) through Systematic Investment Plans (SIPs), thereby simplifying the process of Government Securities (G-Secs) investments for individuals.

💡 Other Important Facts:

  • (i) RBI’s focus on these reforms reflects its broader commitment to improving financial access, simplifying banking processes, and strengthening the delivery of government-supported schemes. The move also supports the vision of boosting participation of rural populations in formal banking channels.
  • (ii) Historically, financial inclusion in India has been driven by multiple policy initiatives, including the launch of PMJDY in 2014 and the introduction of the Retail Direct Scheme in 2021. The present measures are expected to build upon these efforts by expanding their scope and reach, especially in underbanked regions.

📚 Test Your Knowledge:

The RBI recently launched a scheme to conduct doorstep banking camps at which administrative level to boost financial inclusion?

Correct Answer: Panchayat Level

🚀 Quick Recap:

About RBI

  • Governor : Sanjay Malhotra
  • Headquarter : Mumbai